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| Tekijä: | Lausten, M. |
| Otsikko: | CEO turnover, firm performance and corporate governance: empirical evidence on Danish firms |
| Lehti: | International Journal of Industrial Organization
2002 : MAR, VOL. 20:3, p. 391-414 |
| Asiasana: | Chief executive officers Managing directors Corporate governance Company ownership |
| Kieli: | eng |
| Tiivistelmä: | The paper examines the relationship between the replacement of CEO's and corporate performance in Danish firms. The authors use a unique longitudinal data set to the hypothesis that CEO turnover is inversely relate to firm performance. Evidence is provided using several measures of corporate performance and corporate governance. The results are consistent with the principal-agent theory. The threat of turnover ensures that CEO's act in the interest of the shareholders. |
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